Navigation Links
Alder Biopharmaceuticals Receives $3.5 Million Milestone Payment from Bristol-Myers Squibb for Initiation of Phase 2 Clinical Trial of ALD518/BMS-945429 in Crohn's Disease
Date:8/27/2012

BOTHELL, Wash., Aug. 27, 2012 /PRNewswire/ -- Alder Biopharmaceuticals Inc. today announced it has received a $3.5 million milestone payment from Bristol-Myers Squibb for the initiation of a Phase 2 clinical trial of ALD518/BMS-945429, an investigational antibody therapeutic that blocks interleukin-6 (IL-6), in Crohn's disease.

The milestone payment is part of the collaboration between Alder and Bristol-Myers Squibb that was formed in 2009 for the development of ALD518/BMS-945429. Under the collaboration agreement, Alder granted to Bristol-Myers Squibb worldwide exclusive rights to develop and commercialize ALD518/BMS-945429 for all potential clinical uses, with the exception of cancer treatment and cancer supportive care, which are rights retained by Alder.

"We have long believed that ALD518/BMS-945429 would have potential in a large number of disease areas, and today we are excited to see Bristol-Myers Squibb advancing into another area of tremendous unmet need, Crohn's disease," said Randall Schatzman, Ph.D., president and chief executive officer of Alder Biopharmaceuticals. "We look forward to continuing with the clinical investigation in multiple areas through this partnership, including in the ongoing Phase 2b clinical trial in rheumatoid arthritis, as well as in cancer treatment and cancer supportive care on our own."

About Alder Biopharmaceuticals

Alder BioPharmaceuticals Inc. uniquely identifies, develops and manufactures novel antibody therapeutics to alleviate human suffering in cancer, pain, cardiovascular and autoimmune and inflammatory disease areas. The company's second therapeutic program, an investigational monoclonal antibody for migraine, ALD403, inhibits a well-validated molecule shown to trigger migraine attacks, calcitonin gene-related peptide (CGRP), and is now in clinical trials. ALD518 is Alder's investigational monoclonal antibody to the pro-inflammatory cytokine IL-6. Alder is developing ALD518 in Phase 2 clinical studies in multiple cancer-related conditions, while Bristol-Myers Squibb is investigating the asset (as BMS-945429) in a Phase 2b clinical study in rheumatoid arthritis and other autoimmune indications based on a 2009 partnership. Alder's management team combines decades of industry experience with a proven track record for identifying and developing novel antibody therapeutics and enabling partners through the out-licensing of its technologies. For more information, visit www.alderbio.com.

Media Contact:
Ian Stone or David Schull
Russo Partners
Tel: +1 619-528-2220
ian.stone@russopartnersllc.com
david.schull@russopartnersllc.com


'/>"/>
SOURCE Alder BioPharmaceuticals Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Alder BioPharmaceuticals Inc. Initiates Phase 1 Clinical Study of Antibody Therapeutic Candidate for Treatment of Migraine, ALD403
2. Keryx Biopharmaceuticals, Inc. To Host Conference Call on Second Quarter 2012 Financial Results
3. Inspiration Biopharmaceuticals Announces Clinical Hold of Clinical Trials Evaluating IB1001 for the Treatment and Prevention of Bleeding in Hemophilia B
4. Inspiration Biopharmaceuticals Reports Positive Interim Results from the Accur8 Phase 2/3 Study of OBI-1 in Acquired Hemophilia A at WFH 2012 World Congress
5. Keryx Biopharmaceuticals Announces Upcoming Poster Presentation of Zerenex™ (ferric citrate) at the 49th ERA-EDTA Congress
6. Keryx Biopharmaceuticals, Inc. Announces First Quarter 2012 Financial Results
7. Keryx Biopharmaceuticals, Inc. To Host Conference Call on First Quarter 2012 Financial Results
8. GeNO LLC Receives Four Additional Patents for Inhaled Nitric Oxide Delivery
9. Patient Advocate Foundation Receives Significant Support to Aid Non-Squamous Non-Small Cell Lung Cancer Patients through the Co-Pay Relief Program
10. UTHealth Receives FDA Approval To Market New Coronary Flow Reserve Quantification Software
11. Neusoft Positron Medical Systems Receives ISO Certification and CE Mark for their Attrius PET System
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/28/2017)... Holdings, Inc. ("Hill-Rom") (NYSE: HRC), today announced financial results ... and updated its financial outlook for fiscal 2017. ... third quarter, Hill-Rom reported earnings of $0.09 per diluted ... prior-year period. These results reflect after-tax special items, including ... to the non-cash write-down of assets associated with the ...
(Date:7/27/2017)...  Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) today ... 2017.  The Company reported second quarter net sales of ... year period, and an increase of 2.1% on a ... contribution from the LDR Holding Corporation acquisition, second quarter ... 2016, or 0.3% on a constant currency basis. ...
(Date:7/26/2017)... E.I. Medical Imaging (EIMI) has partnered with ... design the worlds first ultrasound system to be used underwater ... habitat. In preparation for a piece produced by Icon ... Dr. Guttridge approached EIMI with the idea of an underwater ... sharks underwater. EIMI ...
Breaking Medicine Technology:
(Date:8/22/2017)... ... August 22, 2017 , ... “Glimpses Of Light”: is a unique ... Of Light” is the creation of published author, J.M. Shepherd, a writer, teacher, traveler, ... to life’s perplexing mysteries. , Shepherd shares, “Love is one of the least understood ...
(Date:8/21/2017)... St. Louis, MO (PRWEB) , ... August 22, 2017 , ... ... and career fairs to help healthcare employers connect with physicians and advanced practitioners like ... of virtual career fairs in August through November of this year. The ...
(Date:8/21/2017)... ... 21, 2017 , ... SportsEngine, Inc. , a division ... Partner of North Country Region Volleyball and will power registration, scheduling, and competition ... providing sport management software to their member clubs. , SportsEngine provides ...
(Date:8/21/2017)... ... ... PIXACORE , an independent full-service agency with a decade of experience ... year by MM&M. , This is the first time PIXACORE has made the Top ... PIXACORE’s newfound recognition reflects its steady trajectory of growth and recent strategic transformation. ...
(Date:8/20/2017)... ... ... total solar eclipse will occur across the U.S. on Monday, August 21, causing ... sun and Earth. This rare event will be magnificent to witness, but what does it ... the road during the total eclipse of the sun. , 1. Plan ahead. The eclipse’s ...
Breaking Medicine News(10 mins):